RIL acquires majority stake in skyTran Inc

March 2021 \ Business & Investment \ BUSINESS: ACQUISITION

RIL acquires majority stake in skyTran Inc

Reliance Strategic Business Ventures Limited ...

"We firmly believe that non-polluting high speed personal rapid transportation systems will help facilitate environmental sustainability through efficient use of alternative energy and make an impactful reduction in air and noise pollution," he added.

skyTran is a technology company incorporated under the laws of Delaware in the US in 2011. It has developed breakthrough passive magnetic levitation and propulsion technology for implementing personal transportation systems aimed at solving the problem of traffic congestion globally. The technology has been developed by skyTran to create smart mobility solutions, said a company statement.